Eight of Japan’s 10 major private-sector think tanks predict the nation’s economy will shrink between 0.3 percent and 1.2 percent in fiscal 2002, painting a bleaker picture than the government’s earlier forecast of zero percent growth.

The Sumitomo-Life Research Institute is the most pessimistic, anticipating a 1.2 percent contraction — measured in terms of gross domestic product — for the year starting April 1. The Industrial Bank of Japan predicts a 0.3 percent shrinkage of inflation-adjusted GDP.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.